After you graduate, you’ll be able to decide on a repayment plan of your choice. If you don’t, then you’re automatically enrolled in the Standard Repayment Plan. With the Standard Repayment Plan, monthly bills are higher but the loan is paid off sooner, saving you money over time. Alternatively, the Graduated Plan begins with lower payments and they increase every two years. Remember, there are several repayment plans available, and you are able to change your plan at any time for free. Visit the Federal Student Aid website to explore more options for repayment.
